Patrick

Solana

Jito

<ul>
 <li><em>Jito airdop caused massive surge in activity on Solana.</em></li>
 <li><em>The price of SOL observed a dramatic uptick.</em></li>
</ul>
<p>Jito, the <a href="https://ambcrypto.com/search/Solana" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Solana[SOL]</a>-based DeFi platform, kicked off its anticipated airdrop on 7th December, putting some $225 million worth of free tokens in the wallets of Solana users around the world.</p>
<h4><strong>Users flock to Solana</strong></h4>
<p>The airdrop started with JTO tokens priced at $6.01, but quickly dropped 58% to $2.50. Platforms like CoinMarketCap and Coinbase showed less initial volatility, suggesting varying opening prices.</p>
<p>Solana users have already claimed over 54 million of the 90 million JTO tokens available in the airdrop. Eligible claimants include JitoSOL holders, Solana validators running Jito MEV clients, and users of Jito’s MEV services.</p>
<p>Despite some discontent among big Solana investors, arguing the airdrop didn’t favor large transactions, others see it as a positive move for the broader Solana DeFi community.</p>
<p>As per Santiment’s findings, JTO and its recent airdrop have consistently ranked among the trending tokens on various platforms, including X, Reddit, Telegram, and 4Chan.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f5e3.png" alt="🗣" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24JTO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$JTO</a> and its new airdrop has been atop our trending tokens list, according to data on <a href="https://twitter.com/hashtag/X?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">#X</a>, <a href="https://twitter.com/hashtag/Reddit?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">#Reddit</a>, <a href="https://twitter.com/hashtag/Telegram?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">#Telegram</a>, &amp; <a href="https://twitter.com/hashtag/4Chan?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">#4Chan</a>. Additionally, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> is seeing a variety of discussions about its future, and several other assets are seeing <a href="https://twitter.com/hashtag/FOMO?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">#FOMO</a> due to pumps. <a href="https://t.co/zOAJGKilQu" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">https://t.co/zOAJGKilQu</a> <a href="https://t.co/KliLJPkur8" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/KliLJPkur8</a></p>
 <p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1732956706345517359?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">December 8, 2023</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>This attention could mean more interest and activity on Solana. If more people get involved, it might boost Solana’s reputation and make it even more popular in the cryptocurrency world.</p>
<p>However, how the airdrop is received and whether it benefits the community could influence how people see Solana. Overall, it has the potential to bring positive attention to Solana, but the impact will depend on how users and the wider community react.</p>
<h4><strong>Interest in DEXes grows</strong></h4>
<p>Due to this hype, in the last 24 hours, Solana accounted for 70% of the decentralized exchange (DEX) volume compared to Ethereum.</p>
<p>This high activity suggests increased usage and trust in Solana’s decentralized platforms. It could attract more developers and users to Solana, fostering a vibrant ecosystem.</p>
<p style="text-align: center;">Read&nbsp;<a href="https://ambcrypto.com/predictions/solana-price-prediction" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Solana’s [SOL] Price Prediction</a>&nbsp;2024-2025</p>
<p>With a growing reputation for efficiency and lower transaction fees, Solana’s strong performance in DEX volume showcases its potential to become a preferred choice for decentralized trading, potentially drawing more attention and investments to the Solana network.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Holy smokes. Solana did 70% of Ethereum's DEX volume over the past 24 hours. <a href="https://t.co/KFMGQGE1U5" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/KFMGQGE1U5</a></p>
 <p>— Patrick Scott | Dynamo DeFi (@Dynamo_Patrick) <a href="https://twitter.com/Dynamo_Patrick/status/1732961071693025352?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">December 8, 2023</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>The growing attention around Solana caused the price to skyrocket. At press time, SOL was trading at <span class="body-1 mrg-s mrg--l mrg--r">$71.11 and in the last 24 hours, it grew by </span>12.42%.</p>
<div id="attachment_358085" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Solana-SOL-14.25.41-08-Dec-2023.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-358085" decoding="async" class="wp-image-358085 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Solana-SOL-14.25.41-08-Dec-2023.png" alt="" width="2560" height="867" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Solana-SOL-14.25.41-08-Dec-2023.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Solana-SOL-14.25.41-08-Dec-2023-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Solana-SOL-14.25.41-08-Dec-2023-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Solana-SOL-14.25.41-08-Dec-2023-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Solana-SOL-14.25.41-08-Dec-2023-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Solana-SOL-14.25.41-08-Dec-2023-2048x693.png 2048w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <p id="caption-attachment-358085" class="wp-caption-text">Source: Santiment</p>
</div>

Here’s how the Jito airdrop benefited Solana

AMBCrypto

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